How to write a real estate purchase agreement.
Your step-by-step guide to writing a contract for a real estate purchase.
Finally matching the perfect buyer with the perfect home is an exciting moment. But before you can hand over the keys, you’ll need to write up a real estate contract called a purchase agreement that clearly outlines the terms of the agreement between the buyer and seller. Here’s a step-by-step guide to help you write a real estate purchase agreement.
Writing a real estate purchase agreement.
Learning how to write a purchase agreement is a valuable skill in the event of a real estate transaction. A real estate purchase agreement indicates the sale of the property, and highlights the purchase clauses that are made between the seller and the buyer. Every payment term, relevant date and detail regarding the purchase should be included, making your document as complete and comprehensive as possible.
To cover your ground and limit potential liability, you'll want to carefully outline the terms of the sale so that both buyer and seller know exactly what they are agreeing to in this purchase. Follow these simple steps to write a home purchase agreement:
- Identify the address of the property being purchased, including all required legal descriptions.
- Identify the names and addresses of both the buyer and the seller.
- Detail the price of the property and the terms of the purchase.
- Set the closing date and closing costs.
- Detail any taxes and other related costs, and establish which party is paying those costs.
- Include any additional items that are being sold with the property, such as furniture or equipment.
- Include any required disclosures pertaining to issues such as lead paint or other hazardous materials on the property.
- Detail any contingencies on the sale, such as pending inspections or appraisals or other required actions that may delay or negate the purchase.
Many purchase agreements have these elements already prepared for you in your purchase agreement template of choice. However, you might consider reaching out to a trusted lawyer to confirm that nothing else is needed.
Sample real estate purchase agreement.
If you’re searching for a purchase agreement template online, or want more information about how to write a purchase agreement, it’s important to understand what a simple real estate purchase agreement should include. Components of a purchase agreement should include:
- Basic identifying information. This can include the names of the parties involved in the agreement, as well as relevant signature blocks and the address of the real estate being sold.
- All payment terms. This includes all obligations of the parties involved, and the total cost of the sale. You’ll also want to include the amount of earnest money deposit involved in your sale.
- Dates and times. Your closing date and the date of execution should be included in your real estate purchase agreement.
You can write all this out yourself or use a free printable real estate purchase agreement PDF that allows you to fill in the relevant information within a template and create a printable PDF. Generally, you’ll want to source your purchase agreement template from a reliable source — such as a legal resource or government agency. Your brokers and agents may also have resources for agreements and templates you can trust.
Sign real estate purchase agreements with Adobe.
Real estate purchase agreements need signatures in order to take effect. With Adobe Acrobat Sign, you can seamlessly search, sign and collaborate with all parties involved, storing your most sensitive information in a single, convenient and cloud-based location.
Once you’re ready to sign, you can send the document to all the parties digitally and collect signatures in a snap using e-signatures by Acrobat Pro with e-sign, which are secure enough to use on essential documents like real estate contracts.
